MontePaschi new boss

The board of Banca Monte dei Paschi di Siena (MontePaschi) is to meet on the 12th January to consider the appointment of Fabrizio Viola as General Manager of the Group.

Viola is currently CEO of Banca Popolare dell'Emilia Romagna and was previously general manager at Banca Popolare di Milano. Current MontePaschi General Manager has offered to step down when a replacement is found. Il Sole 24 Ore wrote the bank was also considering a major updating of its governance and that Viola may become the bank's first ever CEO. MontePaschi is the oldest bank in Italy and one of the oldest banks in the world still operating as an independent retail bank.